Ericsson invested Rs 5.52 billion in Pakistan, plans to double it in 2022.

Syed Amin ul Haq, the Federal Minister for Information, Technology, and Telecoms, has begun to lure foreign investors, with Ericsson, the world’s largest telecommunications corporation, bringing a $31 million (Rs.52 billion) investment to Pakistan.

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The ministry said in a statement released here on Sunday that Ericsson would use the funds to establish an offshore operations center, technical training, and 5-G research and development in Pakistan.

Amin Ul Haque and Ekow Nelson, Chairperson of Ericsson Pakistan at Ericsson Middle East and Africa, met recently to discuss digitalization, skill development, and engineering training in line with the Digital Pakistan goal.

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“Strong steps are undertaken for broadband connectivity both in urban and rural regions, and equal efforts are underway to uplift the start-up & technology skill development ecosystem and IT exports,” said Federal Minister for IT & Telecom Syed Amin ul Haque. Pakistan is a huge technology market, and our youth have a lot of potential.

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Fadi Pharaon thanked the Minister for his time and highlighted Ericsson’s 59-year presence in the country, existing business, and current development on the Near Shore Center, as well as the ambition to expand capacity by 2022. This would result in additional jobs in Pakistan’s telecom sector.

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